The Governor may disapprove the application of any business license if in his opinion the issuance of a license:

(1) would be contrary to the public policy of encouraging the development of business enterprises by Samoans;

(2) would be contrary to the best interest of the public;

(3) would be incompatible with the economic and social development of the plans for the Territory, considering among other things: the nature of the proposed business, proposed location, adequacy of investment nature of the buildings and equipment and sanitary conditions.